Together with Aptean’s executive management team, TA and Vista plan to accelerate Aptean’s growth as the company aims to continue providing best-in-class manufacturing ERP, supply chain and compliance solutions to its customers globally.
TA and Vista will be equal partners, each investing new equity to acquire Aptean from the separate Vista fund that initially invested in the company in 2012. Moving forward, the partnership between TA and Vista will provide Aptean with the benefits of two experienced investment partners, enabling the company to leverage TA’s global add-on acquisition origination and integration capabilities alongside Vista’s proven operational expertise with the aim of positioning Aptean for substantial organic and inorganic growth.
“We are thrilled to partner with TA and Vista as we enter this next phase of growth,” said TVN Reddy, CEO of Aptean. “Over the past year, we streamlined and re-focused Aptean’s product portfolio through the divestitures of Aptean’s public sector, healthcare, and vertical business applications assets. We believe Vista’s continued commitment and TA’s new perspective will equip us with the external resources, capital, and expertise to further strengthen and advance Aptean as the market leader in manufacturing ERP, supply chain and vertically-focused compliance solutions globally.”
Leading up to this investment, Vista and Aptean’s leadership team executed on a plan to focus the company’s product portfolio exclusively on Aptean’s industry-specific ERP, supply chain and compliance solutions. In July 2018, Aptean announced the divestiture of its public sector and healthcare assets, and in October 2018, the company sold its vertical business applications assets. As a result, Aptean is now solely positioned to invest in its core, vertical solutions and continue the development of next-generation SaaS products for its customers.
“We are very pleased to be investing in Aptean, one of the leading manufacturing ERP, supply chain and compliance software providers globally,” said Hythem El-Nazer, a Managing Director at TA Associates. “With its global and loyal customer base, talented management team and accelerating focus towards delivering cloud products, we believe Aptean is well positioned to take advantage of organic and inorganic strategic initiatives. Furthermore, we are confident that the combination of the breadth of value-add capabilities that TA and Vista bring will help enable further acceleration in growth. We are excited about the next chapter of Aptean and are committed to ensuring the business has the resources necessary to continue to innovate and bring new products and functionality to customers.”
“We see a tremendous opportunity for Aptean’s continued growth as we partner with TA during the next phase of value creation,” said Marc Teillon, a partner at Vista Equity Partners. “The company’s sharp focus positions it to take advantage of vertical-specific market requirements that necessitate purpose-built solutions. We look forward to working with TA and Aptean’s leadership team to maximize the opportunities within the existing product set while remaining focused on acquisitions to meaningfully expand Aptean’s product depth and geographic footprint through acquisition.”
DLA Piper served as the legal advisor to TA Associates. Atlas Technology Group served as the financial advisor to Vista, and Kirkland & Ellis and Ropes & Gray served as legal advisors.
The transaction is subject to customary closing conditions and is expected to close during the second quarter of 2019.
Aptean (aptean.com) is a global provider of mission-critical, industry-specific software solutions. Aptean’s purpose-built ERP and supply chain management solutions help address the unique challenges facing process and discrete manufacturers, distributors, and other focused organizations. Aptean’s compliance solutions are built for companies serving specific markets such as finance, healthcare, biotech and pharmaceuticals. Over 2,500 organizations in more than 20 industries across 54 countries trust Aptean’s solutions at their core to assist with running their operations.
About TA Associates
TA Associates (ta.com) is one of the largest and most experienced global growth private equity firms. Focused on five target industries technology, healthcare, financial services, consumer and business services TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.
About Vista Equity Partners
Vista Equity Partners (vistaequitypartners.com) is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $46 billion in cumulative capital commitments. Vista exclusively invests in software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity.
For TA Associates:
Marcia O’Carroll, TA Associates
P: 617-574-6796 - E: mocarroll[.]ta.com.
Zachary Tramonti, BackBay Communications
P: 617-391-0797 - E: zachary.tramonti[.]backbaycommunications.com.
For Vista Equity Partners: Dafna Tapiero
P: 202-776-7776 - E: vista[.]laurelstrategies.com.